Industry Insights

The global psoriasis therapeutics market size was valued at USD 11.5 billion in 2016 and is estimated to grow at a CAGR of 9.3% during the forecast period. Increasing awareness about treatment and rising demand for improved healthcare infrastructure are major factors expected to drive the psoriasis market.

The changing lifestyle of people leading to increased alcohol consumption and smoking, unhealthy diet and a sedentary living makes more people prone to this condition. Psoriasis is a genetic condition that may not be present at birth. The condition may be triggered by certain environmental and genetic factors.

According to the International Federation of Psoriasis Association, approximately 5.0% people suffer from one or more forms of psoriasis, globally. In the U.S. alone, the condition affects nearly 7.5 million people, which is roughly 2.0% of the population. Moreover, approximately 100,000 new cases are registered and reported every year.

Plaque psoriasis is spearheading the segment with more than 80.0% patients suffering at a global level. Guttate psoriasis is the second most common type, affecting about 10.0% of the patients. Erythrodermic psoriasis is the rarest but the most dangerous type. This condition demands a medical emergency, often leading to hospitalization of patients.

Therapeutic Class Insights

The market space can be divided into various therapeutic classes such as Tumor Necrosis Factor (TNF)-inhibitors, Interleukin inhibitors and Vitamin D Analogues. TNF inhibitors have dominated the therapeutic space. However, they are likely to lose shares over the forecast. The marketed TNF-inhibitors used for psoriasis are Humira (adalimumab), Enbrel (etanercept) and Remicade (infliximab).

Interleukin (IL) inhibitors are expected to witness the fastest growth over the forecast period due to their improved safety and efficacy profiles and rising adoption among end users. Marketed interleukin inhibitors include Stelara (ustekinumab), Cosentyx (secukinumab), Taltz (ixekizumab), Siliq (brodalumab) and Tremfya (guselkumab).

The need for efficient and long-lasting drugs is a key driver pushing the market growth.The IL-mode of therapy is beneficial to patients who are intolerant or contraindicated to TNF-α inhibitor therapy. The rising adoption of the IL-inhibitor therapy and patent expiries of major TNF-inhibitor drugs such as Humira and Remicade are some of the contributing factors for this decline of TNF-inhibitor shares in the psoriasis therapeutic space.

Regional Insights

The U.S. is the dominant region in this market. The U.S. held more than 35.0% market share in 2016. Established healthcare infrastructure, high adoption of therapeutics and presence of key manufacturers in the U.S are a few factors responsible for its large share. Moreover, increasing prevalence and favorable government initiatives are some drivers fueling the market growth.

Japan is estimated to witness the fastest growth over the forecast period with CAGR of around 13.0% due to the rising awareness about early diagnosis, high unmet clinical needs of patients, rising disposable income and availability of effective treatment.

Competitive Insights

Some of the key players operating in this industry are AbbVie Inc., Amgen Inc., Johnson & Johnson, Novartis AG, Eli Lilly & Company, AstraZeneca and Celgene Corporation. Several companies like Boehringer Ingelheim and Sun Pharma have promising drugs in the pipeline.

The companies are focusing on business expansion in emerging markets or developing regions such as India, China and South Korea. They are adopting strategies including mergers & acquisitions for development of new products. The emergence of biosimilars is also a trend that is being increasingly adopted by these companies.

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Segments Covered in the Report

This report provides an analysis on the market trends in each sub-category as well as forecasts revenue growth 2016 to 2022. For this study, Grand View Research has segmented the psoriasis therapeutics market based on therapeutic class and treatment: